Grain Management completes Summit Broadband takeover

24 Jan 2020

Washington, DC-based investment firm Grain Management has completed the acquisition of a majority interest in Summit Broadband from Cable Bahamas. The deal, which Bahamian investors indicated was valued at USD332.5 million, was agreed on 19 August 2019. The current incarnation of Summit Broadband was created following the USD99 million quadruple takeover of Florida-based ISPs Summit Broadband, Marco Island Cable, NuVu and US Metropolitan Telecoms, which concluded in 2013.

TeleGeography notes that Grain Management agreed a number of takeover deals in August 2019. It concluded the acquisition of St Louis-based InterCarrier Networks (via Great Plains Communications, a Grain Management portfolio company) on 6 August, and went on to strike deals for Arkansas-based Ritter Communications (12 August) and Oregon-based Hunter Communications (20 August).

United States, Cable Bahamas Limited (CBL, REV), Grain Management, Summit Broadband